Solventum Co. (NYSE:SOLV) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lessened its holdings in shares of Solventum Co. (NYSE:SOLV) by 17.9% during the fourth quarter, HoldingsChannel reports. The fund owned 8,474 shares of the company’s stock after selling 1,844 shares during the period. Salem Investment Counselors Inc.’s holdings in Solventum were worth $560,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Czech National Bank grew its stake in shares of Solventum by 6.5% during the 4th quarter. Czech National Bank now owns 29,966 shares of the company’s stock worth $1,980,000 after purchasing an additional 1,820 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Solventum by 24.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock worth $3,103,000 after buying an additional 9,333 shares in the last quarter. Nordea Investment Management AB grew its position in Solventum by 189.5% during the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock worth $43,902,000 after buying an additional 431,986 shares during the period. Everence Capital Management Inc. purchased a new position in Solventum in the fourth quarter valued at about $305,000. Finally, Modus Advisors LLC acquired a new stake in shares of Solventum during the 4th quarter valued at approximately $25,000.

Solventum Stock Performance

Shares of SOLV opened at $68.46 on Tuesday. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The company’s 50 day simple moving average is $69.24 and its 200 day simple moving average is $65.12. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Piper Sandler upped their price target on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Wolfe Research initiated coverage on Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. Morgan Stanley boosted their price objective on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Stifel Nicolaus initiated coverage on shares of Solventum in a report on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price for the company. Finally, Mizuho assumed coverage on shares of Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $68.29.

Solventum Profile

Solventum Corporation, a healthcare company, engages in the developing, manufacturing, and commercializing a portfolio of solutions to address critical customer and patient needs. It operates through four segments: Medsurg, Dental Solutions, Health Information Systems, and Purification and Filtration.